As the asset's volatility stops and its price hovers around neutral, Shiba Inu (SHIB) appears to be getting closer to what many are referring to as ground zero.

With little to no movement in recent trading sessions, SHIB is currently in a risky position, having lost more than half of its value from its previous highs.

Even though many investors were expecting a recovery, the current state of affairs raises more questions about the meme coin's prospects.

The price of SHIB is now well below its major resistance levels at approximately $0.00001310.

The asset is unable to gain any significant momentum, as it continues to trade below the 50-day and 200-day EMAs.

It is now facing an uphill battle as enthusiasm wanes and the market cools off, whereas SHIB had previously seen rapid gains driven by community hype and speculative trading.

The asset's volatility has now reached an all-time low, drawing in speculators.

That being said, such a breakout may be far off given the uncertainty surrounding the larger cryptocurrency market.

Regretfully, things might not work out the way that certain holders of SHIB anticipate.

블록테크미디어 DANIEL KIM desk@blocktechmedia.com DANIEL KIM의 기사 더보기

저작권자 ⓒ 블록테크미디어, 무단 전재 및 재배포 금지